China Overtakes Japan as World's Second-Biggest Economy

China surpassed Japan as the world’s second-largest economy last quarter, capping the nation’s three- decade rise from Communist isolation to emerging superpower.

Read full history at Bloomberg

Germany Powers Fastest Europe Expansion in Four Years

Europe’s economy expanded more than economists forecast in the second quarter as the fastest growth in Germany in two decades powered the region’s recovery. Europe’s largest economy, grew in the quarter at the fastest pace since reunification.

In Germany, GDP jumped 2.2 percent from the previous three months, while the French economy expanded 0.6 percent and growth in the Netherlands accelerated to 0.9 percent. The second-quarter data also show that the euro area outpaced the U.S., which grew 0.6 percent, based on the EU statistics office measure.

Still, some euro-area countries continue to struggle. Greece, which was forced to seek a EU-led bailout in May, experienced a 1.5 percent contraction, while [Portugal] and Spain’s economy grew 0.2 percent.

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The U.S. economy, the world’s largest, will probably expand 3.3 percent this year, the Washington-based fund said. The euro- region economy may grow 1 percent, with Chinese GDP seen increasing 10.5 percent and India’s economy expanding 9.4 percent, it forecast.

ECB President Jean-Claude Trichet: “We consider that both the second quarter and probably also the third quarter are likely to be better than expected. But we are certainly not declaring victory nor would we say that we’re in a period of active growth.”

Full article:

Germany Powers Fastest Europe Expansion in Four Years - BusinessWeek

Google to Allow Trademarked Keywords Following European Union Ruling - Bloomberg

Google Inc. will allow advertisers on its sites across Europe to use trademarked terms as “keywords” that link Internet searches to ads.

The policy change brings Google’s trademark practice in Europe in line with company rules in about 190 countries, including the U.S., Canada, the U.K. and Ireland. The change, effective from Sept. 14, follows a ruling by the European Union’s highest court in March that Google doesn’t breach EU law by selling trademark-protected names as keywords.

via bloomberg.com

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